June 25, 2004
PR No. 133/2004

SUSPENSION OF CERTIFICATE OF REGISTRATION OF M/S. DRB SECURITIES PVT. LTD., MEMBER OF THE UTTAR PRADESH STOCK EXCHANGE

The Securities and Exchange Board of India (SEBI) has passed an order dated June 21, 2004 suspending the certificate of registration granted to M/s. DRB Securities Pvt. Ltd., (SEBI Registration No. INB100965933), member of the Uttar Pradesh Stock Exchange for a period of four months with effect from July 12, 2004. 

The order has been passed by the Whole Time Member, SEBI against M/s. DRB Securities Pvt. Ltd. for irregularities in issuance of Contract Notes, indulging in unauthorised carry forward transactions and off the floor transactions, failure to maintain client registration forms, non-segregation of own funds and client funds, failure to make timely payment to clients, engaging in business other than that of securities, failure to collect margins from clients, failure to rectify bad deliveries in time etc. 

M/s. DRB Securities Pvt. Ltd. member of the Uttar Pradesh Stock Exchange will not be entitled to carry on the business as a Stock Broker with effect from July 12, 2004 till November 11, 2004.
 
 
Mumbai June 25,2004